ARTICLE | Company News

GSK, Hanmi in drug reformulation deal

March 29, 2012 12:34 AM UTC

GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) and Hanmi Pharmaceutical Co. Ltd. (KOSDAQ:128940) partnered to co-develop and commercialize "evidence based formulation" (EBF) products. The companies said EBFs are reformulated drugs, including fixed-dose combinations of active drugs with different pharmacokinetic properties, new routes of delivery or improved safety profiles. The partners will share clinical development costs. Hanmi will be responsible for formulation research, early clinical testing and manufacturing, while GSK will be responsible for later clinical testing and registration. The companies will co-market and co-promote the products in Korea and China. GSK will be responsible for commercialization in the rest of the world. Hanmi is eligible for an undisclosed amount of milestones from GSK. ...